The August knifing triggered a by-election which saw Dr Phelps wrestle Wentworth from the Liberals.

After voting at Bondi Beach Public School, Dr Phelps made a final pitch to both angry voters and otherwise.

"The wonderful thing about an independent, is that if this is a Labor government as predicted, that an independent in an area like this will be able to work with either side of government," she told reporters in between voting and handing out flyers.

Kerryn Phelps smiles with her grandchildren on election day in Sydney. (AAP)

While the sitting MP previously said she expects to lose some support from traditional Liberal voters who temporarily changed their colours in October, she was putting her faith in a strong youth vote.

"A lot of people are saying they are very happy with the fact that I fulfilled my promises that I made at the by-election," she said.

"There are more people now who are very concerned about the lurch of the Liberal party to the right."

Treasurer Josh Frydenberg has acknowledged his seat of Kooyong is "tight" and isn't taking a win at today's election for granted.

Mr Frydenberg holds Kooyong on a nearly 13 per cent margin, but with high-profile human rights lawyer Julian Burnside and Liberal-turned-independent Oliver Yates also vying for the seat, he says he can't look into his "crystal ball" just yet.

The incumbent told reporters on Saturday, just after voting at North Balwyn Primary School, that he was confident a Morrison government would lead to a stronger future with the budget "back in the black" and criticised Bill Shorten's proposed tax increases.

Mr Frydenberg, who has held Kooyong since 2010, also hit out at dirty tactics during the election campaign, including having his door covered in swastikas.

"That level of antagonism, aggression and disregard for the horrors of history is unacceptable," he said.

Earlier on Saturday morning, Mr Burnside told reporters he isn't just "having a crack" at Kooyong - he is in it to win.

The first-time candidate was sure the climate change issue would get him over the line in the traditionally conservative Melbourne electorate.